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Inicio Uncategorized Customer Relationship Management (CRM) - Using Data to Understand Customers and Boost Sales

Customer Relationship Management (CRM) – Using Data to Understand Customers and Boost Sales

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Equal to technology and strategy, CRM is about using data to better understand customers and boost sales. Its success depends on the business establishing an outline of how to use the CRM tools and implementing that plan across the entire organization.

CRM is a software tool that lets businesses keep track of prospect and customer data to track interactions as well as automate marketing campaigns and produce reports. It lets companies communicate and connect with their customers and prospects through a variety such as text messages, email, and other social media platforms.

While many think of CRM as a sales tool however, the truth is that it can be used by any department of the business. For example the billing department can utilize CRM to track sales commissions, look over contracts and compare projections to actual revenue. Marketing departments can use it to determine patterns and opportunities to better target potential customers.

Each time a sales staff talks to a client or meets a new lead or follows up on an existing lead, they produce floods of data. The data typically went into analogue or unconnected media such as laptops or notebooks or remained in team members head. CRM systems allow this information to be collected and stored in one place that is instantly shared with all of the company’s employees, regardless of the channel they are interacting on.

The most advanced CRMs today incorporate AI and machine learning, which interpret data and provide actionable insight for every opportunity. This way, businesses can enhance the customer experience, improve engagement, and increase retention and loyalty.

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